Here’s how it works in NJ:
1. If you are under age 65 NJ extorts you for $10,000 to leave the state.
2. If you’re over 65, you pay a percent of that. In my case I paid $3,000.
When I say extort I mean it. You cannot close the sale of your home without writing a check to NJ. Don’t have my closing sheet handy, but I think it’s called an Exit Tax.
I think it was instituted by the demrat governor Florio back in the 80s. We’ve had two so-called Pubbie governors in the interim and none of them revoked the practice. But, then the NJ GOP is owned lock, stock and barrel by RINOs and therefore, by extension, the demrat party.
For me the jury is still out with Christie. None of what he’s done so far has encouraged people or businesses to stay in the Garden State. Compared to what Walker did in WI, Christie has just nibbled around the edges of the Teacher and Public Service employee union largess.
How do they know you're leaving the state? Seems you could avoid telling them somehow.
$10,000 to leave a state?! You’ve got to be kidding! I have never heard of such a thing in America.
I found a link here that says that many people overpay the NJ Exit tax.
N.J.’s exit tax: So baffling, even officials can’t explain it
http://www.nj.com/business/index.ssf/2010/10/nj_exit_tax_has_real_estate_at.html
It also says they continue to revise it so it never stays the same!
It’s good you got out of there.